According to the official WeChat account of TechInsights, the forecast report shows that global smartphone shipments will continue to shrink in 2023. Compared with the version released in March 2023, TechInsights will Annual smartphone shipments are revised down from 1.1881 billion to 1.16 billion units (Note: Data decreased by 23.3 million units), a year-on-year decrease of 2.8% from 1.2 billion units in 2022. The post-reopening Chinese market is mixed, with ongoing geopolitical tensions and macroeconomic headwinds continuing to weigh on the global smartphone market in 2023 and 2024.
Smartphone shipments are revised down for 2023 in all regions except Africa and the Middle East, the new report said. The Asia-Pacific region accounted for the largest share (10.5 million unit decline between the two releases), mainly due to mixed demand following the reopening of China, prolonged geopolitical tensions, and macroeconomic uncertainty.
Meanwhile, TechInsights has also lowered its 2023 smartphone shipment forecast for Central and Eastern Europe due to the protracted Russia-Ukraine conflict, down 8.1 million to 59.2 million units from 67.3 million in the March edition.
Additionally, due to macroeconomic headwinds, North American smartphone shipments in 2023 were revised down by 5.6 million units to 125.1 million units from the March forecast of 130.7 million units. Adjustments in Western Europe and Central Latin America remain modest between the two releases.
Taking into account the manageable earthquake impact in Turkey and the slow growth of food prices in 2023 (compared with 2022), TechInsights raised the forecast value of Africa and the Middle East in the latest forecast, from 132.4 million estimated in March to 2.6 million. 135 million.
Taking into account the above-mentioned unfavorable factors and uncertainties, TechInsights has also lowered its forecast for global smartphone shipments in 2024 (from 1,228.5 million units in the previous version to 1,121.14 million units in the latest version).
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TechInsights expects Samsung and Apple to continue to lead the global smartphone market, followed by Chinese brands such as Xiaomi, OPPO (including OnePlus), Vivo, Transsion, Honor, Realme, Lenovo Motorola and Huawei. Brands outside the top ten, Google Pixel phones and Nokia HDM phones, are expected to maintain steady growth over the next two years.
